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China continues to diversify its foreign exchange reserves. China has been selling U.S. Treasuries and buying Japanese and European debt instruments. The Chinese sales meant that America recorded a net capital outflow in June for the first time in five months.

Foreigners dumped a net $6.7 billion in U.S. securities in June. The selling included short-term instruments such as Treasury bills. This reversed foreigners buying $17.1 billion in May. Foreigners did however increase purchases of long-term securities. These purchases increased in June buying a net $44.4 billion compared to $35.3 billion in May. Foreigners were net sellers of U.S. corporate debt and equities for the second straight month.

The U.S. continues on the path of being the world pauper with net purchases of U.S. Treasury debt rising by about $18.3 billion to $33.2 billion. One wonders is this a tend as China reduces it's U.S. treasury holdings.]]> billyaustindillon@nospam.com (billyaustindill) Mon, 16 Aug 2010 08:08:30 -0700 http://www.traderscommunity.com/news.php?item.34782.13 http://www.traderscommunity.com/news.php?item.34762.13
Over in Indonesia the Indonesian bond yields hit new record lows also a day after the Indonesian central bank left interest rates unchanged. The Indonesia bond curve flattened with the mid- to long-end of the curve bid as official rates are expected to remain through 2010.

Philippine Bonds

The benchmark Philippine four-year bonds fell one basis point to 5.38 percent. This extended its decline to 10 basis points so far this week. Trading was heavy with bonds worth 27 billion pesos exchanged in the first trading session of the day. Bonds worth 19 billion pesos were exchanged yesterday.

]]> billyaustindillon@nospam.com (billyaustindill) Thu, 05 Aug 2010 01:16:20 -0700 http://www.traderscommunity.com/news.php?item.34762.13 http://www.traderscommunity.com/news.php?item.34716.13
Benchmark three-month euro Libor rates, which have hit a new low almost every day this year, fell further to 0.61625 percent. Equivalent dollar rates were unchanged at 0.24888 percent.

Overnight deposits at the ECB more than doubled to over 100 billion euros as banks received back the funds the central bank had drained on Tuesday, the end of the maintenance period.

And with near 200 billion euros of excess liquidity floating around the banking systemn, the Eonia overnight rate sank back to around 0.33 percent.

Analysts said the ECB appeared comfortable with the amount of liquidity however, and did not expect it to take steps to drain cash ahead of the maturity of nearly half a trillion euros of 1-year funds at the end of June.]]> melanie@nospam.com (traders) Thu, 21 Jan 2010 04:33:39 -0800 http://www.traderscommunity.com/news.php?item.34716.13 http://www.traderscommunity.com/news.php?item.34721.13 UK public borrowing worsens less than expected in Dec

British public borrowing was lower than expected in December, helped by an increase in cash tax receipts, but still hit record highs for the month and financial year to date, official data showed on Thursday.

'It's a rare positive surprise,' said Alan Clarke, economist at BNP Paribas. 'It looks like the blow-out of the public finances is slowing down to some extent.'

The Office for National Statistics said the public sector posted a net cash requirement of 23.60 billion pounds last month, a record high for the month but below analysts forecasts for a reading of 26.0 billion pounds.

The government's preferred accruals-based measure of public sector net borrowing came in at 15.719 billion pounds, also a December record but again below expectations for 18.75 billion.

The figures were helped by a second consecutive annual rise in monthly cash tax receipts and analysts said that trend could continue as the government raised VAT in January, but warned that major fiscal tightening was still needed.]]> melanie@nospam.com (traders) Thu, 21 Jan 2010 03:05:52 -0800 http://www.traderscommunity.com/news.php?item.34721.13 http://www.traderscommunity.com/news.php?item.34702.13
Net overall capital inflows into the United States totaled $26.6 billion in November from a revised outflow of $25.4 billion the previous month, the Treasury Department said on Tuesday.

Excluding swaps, net long-term capital inflows jumped to $126.8 billion in November from a revised $19.3 billion inflow in the previous month. This is a key gauge of foreign investor appetite because it excludes short-term transactions.

'There was more of a long-term commitment to the U.S. financial markets. The surge was led by Treasuries buying,' said James O'Sullivan, chief economist with MF Global in New York.

Net private purchases of Treasury bonds and notes hit a record $87.1 billion in November, up from $23.9 billion in October. Official accounts bought a net $31.2 billion of these securities, compared with $15.0 billion in the previous month.]]> melanie@nospam.com (traders) Tue, 19 Jan 2010 10:51:32 -0800 http://www.traderscommunity.com/news.php?item.34702.13 http://www.traderscommunity.com/news.php?item.34695.13
The 10-year JGB futures dipped slightly as dealers sold to hedge against the new five-year paper sold on Tuesday, market players said.

'Today's strong results may not have direct implications going into the 20-year auction (on Thursday) as the buyers of the two sectors are different. But it improves market sentiment as a whole, as during the past two weeks the intermediate sector has been heavy relative to other sectors,' RuiXue Xu, an interest rate strategist at RBS Securities.

In the 2.4 trillion ($26.4 billion) five-year auction, the bid-to-cover ratio, a gauge of demand, rose to 3.36 from 2.90 at the previous auction and was the highest since the November tender.

'Banks are buyers of five-year JGBs who hold large excess reserves, and the higher bid-to-cover ratio reflects this,' said Xu.]]> melanie@nospam.com (traders) Mon, 18 Jan 2010 21:23:15 -0800 http://www.traderscommunity.com/news.php?item.34695.13 http://www.traderscommunity.com/news.php?item.34647.13
A safety bid stemming from a sell-off on Wall Street and default concerns over non-U.S. government debt intensified Treasury buying.

Traders' relief in the wake of the solid demand for this week's $84 billion in government debt supply added to the market's upbeat tone, analysts said.

The bond-friendly factors provided the biggest boost to long-dated Treasuries. The 30-year bond recorded its biggest weekly yield decline in 3-1/2 months, as investors snapped up the longest government debt maturity.

'Where else are people are going to go but out the curve, as long as inflation remains subdued?' said Richard Schlanger, portfolio manager at Pioneer Investments USA in Boston.]]> melanie@nospam.com (traders) Fri, 15 Jan 2010 13:18:38 -0800 http://www.traderscommunity.com/news.php?item.34647.13 http://www.traderscommunity.com/news.php?item.34653.13
'It is a completely false assessment that the euro zone could break up,' Stark said in a panel discussion on German radio station SWR2.

Worries about a break up of the 16-country bloc have resurfaced in recent weeks as problems with Greek public finances have emerged.

Stark, one of the ECB's six-strong board, recently said that financial markets were deluded if they thought other European countries would bail Greece out.

During the radio discussion, Stark went on the criticise the idea of issuing a joint euro zone bond to give countries in difficulty another financing option.]]> melanie@nospam.com (traders) Fri, 15 Jan 2010 11:56:00 -0800 http://www.traderscommunity.com/news.php?item.34653.13 http://www.traderscommunity.com/news.php?item.34612.13
Treasuries held by overseas central banks at the Fed declined by $5.45 billion to total $2.182 trillion in the week ended Jan. 13.

Foreign central banks' holdings of securities issued or guaranteed by the two biggest U.S. mortgage financing agencies, Fannie Mae and Freddie Mac, rose by $1.4 billion to $767.34 billion in the latest week.

The combined holdings of Treasuries and agency securities by foreign central banks at the Fed fell $4.05 billion to a total of $2.949 trillion on Wednesday.

This week, the U.S. Treasury sold $84 billion of bonds, while Fannie Mae sold $4.5 billion of three-year notes.

Overseas central banks, particularly in Asia, have been huge buyers of U.S. debt in recent years and own more than a quarter of marketable Treasuries. China has overtaken Japan as the biggest such buyer.

The full Fed report can be found on: http://www.federalreserve.gov/releases/h41/
]]> melanie@nospam.com (traders) Thu, 14 Jan 2010 13:39:58 -0800 http://www.traderscommunity.com/news.php?item.34612.13